Living your portfolio life
Life can be unpredictable, and sometimes we face unexpected challenges that force us to re-examine our careers and our lives. However, it's not always necessary to wait for a setback to prompt us to act. We should ask ourselves regularly: am I living my best portfolio life?
In a previous article, Staying market relevant in uncertain times, we discussed the importance of building a toolkit of capabilities through a mosaic of diverse experiences. Building on this, we can explore the concept of a “portfolio life,” inspired by author Christina Wallace who advocates that like managing your financial investment portfolio, in which at times you need to adjust the mix of investments, you need to take the same approach to your career and life.
In her book, The Portfolio Life: How to Future-Proof Your Career, Avoid Burnout, and Build a Life Bigger than Your Business Card, Wallace suggests that life is built on three tenets:
1. You are more than any one role or opportunity.
2. Diversification will help you navigate change and mitigate uncertainty.
3. When (not if) your needs change, you can and should rebalance.
To create a portfolio life, we must ask ourselves three questions:
Who am I (skills, talent, your networks)?
What do I need (flexibility, income, learning)?
What do I want (for my life)?
Taking the time for reflection is crucial to living your best "portfolio life." It's helpful to talk with others about potential growth opportunities, and in some cases, when it's time to move on and make changes. You can read more about this in the article, Paint your career curve.
As for me, I am following my advice and reskilling to stay market relevant. As a startup founder for the past five years, I have learned a lot about building technology and growing a community. It's been incredible to surround myself with a diverse network of people. Currently, I'm investing more time in learning and gaining deeper experience in social sustainability in the workplace (the "S" in ESG) to be ready for the increased demand for companies to address stakeholder demands for a sustainable future of work.
In the current economic climate, it's important to be adaptable. Amid layoffs, hiring freezes, and higher cost of living pressures, making career moves is not for the faint-hearted. Professional white-collar jobs are becoming harder to secure, with fewer available roles as companies tighten costs, and more competition from a larger talent pool of job seekers actively looking for new opportunities. Business Insider’s article, White-Collar Recession: It's Hard to Find a High-Salary Job, indicates the current employment environment.
Living a portfolio life involves taking a proactive approach to managing your career and life. It means acknowledging that you are more than any one role or opportunity, diversifying your experiences and skills, and being willing to rebalance when your needs change. Even in uncertain times, it's possible to stay market-relevant and find success by approaching your career and life as a portfolio.
What does your portfolio life look like?
Written by Mimi Lee, Founder, Meiava
Photo: Cotton Bro Studios | Pexels